President, Home Team Insurance Services, Western Iowa
Life insurance can help in you in a number of ways. First and foremost, it can protect your loved ones from financial peril in case of death. It can help them pay the mortgage, car payments, credit card payments, student loans, etc.
Second, if you have an IUL or Whole Life policy, it can build cash value that can help you pay for major expenses down the road, like children's college education, a dream vacation, etc.
Third, there are relatively new policies out there that offer living benefits, meaning that if you were to get a qualifying critical illness, terminal illness, disability, etc, you can accelerate a portion of your death benefit to help pay for some of the costs associated with those illnesses or accidents.
Safe Money Specialist, Safe Money Solutions LLC, Harrisonburg, Virginia 22801
How does life insurance help you?
Great question! Besides the obvious answer given by most agents of "It gives your family the resources they need to take care of things AFTER you pass away..." there are some even better and less morbid answers. (sorry about killing you just now, I promise not to do it again)
Life Insurance is one of the best kept secrets (do you trust Washington & Wall Street? - us either) when it comes to retirement planning.
Here at Safe Money Solutions LLC we help families create TAX FREE INCOME that they can never outlive using a specially designed life insurance policy.
While we do earn less money in commissions creating these policies, we sleep easy knowing we have given individuals and families the peace of mind that they will have income they can count on in retirement. PLUS the best news is your money IS NOT in the market!!!
Retirement Income Strategist, KJ Financial, Liberty, Missouri
Typically, life insurance is of benefit to your loved ones. Many buy life insurance to make sure their loved ones are financially able to do the things they would have done if you were still around.
That being said, many modern properly structured permanent life insurance products do have some benefits you can use while alive. These include access to cash and additional money if you can't to two of the six activities of daily life (typically how the need for long-term care is defined) to help cover some of the costs of in-home care, assisted living costs or nursing home costs.
While not all inclusive of a list it is a good basis for your consideration.
While there are some life insurance policies that you can borrow against, life insurance isn't for you. Life insurance is for those you leave behind. Life insurance is to make sure that your family can continue living after your death. Life insurance is to ensure that your children can maintain their fond memories of you, and allow them to continue living the life that you created for them.
Even if you are single, someone will be affected by your death. Someone will have to pay for a funeral, your final expenses, and fulfill your final wishes. Life insurance has nothing to do with you, it's about those around you.
President, The Firm of Steven H. Kobrin, LUTCF, 6-05 Saddle River Rd #103, Fair Lawn, NJ 07410
Life insurance empowers you.
We all know that the policy pays out when you die. Therefore, in order to buy it, you have to face the fact that this event will some day take place.
Guaranteed.
That’s a scary thought, and most people don’t like to think it. They prefer to think about other fun stuff. When it comes to financial products, they want to put as much money as possible into their pocket. Not somebody else’s.
And yet that is what you are doing when you buy life insurance: thinking about somebody else’s financial welfare.
So you not only look your own mortality right in the face and accept it, but you rise above it and take care of somebody else.
Someone you love, and care for, and for whom you want nothing but the best.
Life insurance helps you be altruistic and benevolent to the highest degree.
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Second, if you have an IUL or Whole Life policy, it can build cash value that can help you pay for major expenses down the road, like children's college education, a dream vacation, etc.
Third, there are relatively new policies out there that offer living benefits, meaning that if you were to get a qualifying critical illness, terminal illness, disability, etc, you can accelerate a portion of your death benefit to help pay for some of the costs associated with those illnesses or accidents.
Great question! Besides the obvious answer given by most agents of "It gives your family the resources they need to take care of things AFTER you pass away..." there are some even better and less morbid answers. (sorry about killing you just now, I promise not to do it again)
Life Insurance is one of the best kept secrets (do you trust Washington & Wall Street? - us either) when it comes to retirement planning.
Here at Safe Money Solutions LLC we help families create TAX FREE INCOME that they can never outlive using a specially designed life insurance policy.
While we do earn less money in commissions creating these policies, we sleep easy knowing we have given individuals and families the peace of mind that they will have income they can count on in retirement. PLUS the best news is your money IS NOT in the market!!!
learn more at http://www.SafeMoneyRod.com
That being said, many modern properly structured permanent life insurance products do have some benefits you can use while alive. These include access to cash and additional money if you can't to two of the six activities of daily life (typically how the need for long-term care is defined) to help cover some of the costs of in-home care, assisted living costs or nursing home costs.
While not all inclusive of a list it is a good basis for your consideration.
Hope this helps.
Even if you are single, someone will be affected by your death. Someone will have to pay for a funeral, your final expenses, and fulfill your final wishes. Life insurance has nothing to do with you, it's about those around you.
We all know that the policy pays out when you die. Therefore, in order to buy it, you have to face the fact that this event will some day take place.
Guaranteed.
That’s a scary thought, and most people don’t like to think it. They prefer to think about other fun stuff. When it comes to financial products, they want to put as much money as possible into their pocket. Not somebody else’s.
And yet that is what you are doing when you buy life insurance: thinking about somebody else’s financial welfare.
So you not only look your own mortality right in the face and accept it, but you rise above it and take care of somebody else.
Someone you love, and care for, and for whom you want nothing but the best.
Life insurance helps you be altruistic and benevolent to the highest degree.
And you know what? That is a great way to be.